Goverment Motors

By |2014-09-05T13:11:33+00:00June 1st, 2009|Global Market Update|

So now we live in a world where GM is bankrupt. At 8 am today, GM will file for protection from creditors via Chapter 11 of the United States Bankruptcy Code. GM's core assets will be sold to a Debtor-in-Possession (DIP) and the "new" GM will be restructured by the Court with new owners: the unions, the bondholders, and the DIP lender. What's new this time is that the DIP lender will be the United States Treasury. Around the world, countries are coming to [...]